When you open an FD account, the interest rate given is used to calculate guaranteed returns. Depending on the duration and amount you choose, interest rates will vary depending on the bank. Here are small finance banks (SFBs) which have revised fixed deposit interest rates for amounts below Rs 2crore.
(Owing to their business model, small finance banks cannot be kept on par with other scheduled commercial banks. Hence FDs from small finance banks are also not comparable in terms of risk profile to full-service banks. However, when it comes to insurance, do keep in mind that deposits in small finance banks are also insured by the Deposit Insurance Credit Guarantee Corporation (DICGC) to the tune of Rs 5 lakh. Most of the experts advise layman retail investors to keep their exposure limited in FDs of small finance banks so that it is well within DICGC cover of Rs 5 lakh including principal and interest.)
Also read: SBI FD interest rate up to 7.9%: 5 State Bank of India special fixed deposits offering higher rates
Ujjivan Small Finance Bank
Ujjivan Small Finance Bank offers interest rate between 3.75% to 8.50% for general citizens. The highest interest rate of 8.50% on tenure of 15 months and highest interest rate of 9% for senior citizens on same tenure. The rates are effective from March 7, 2024.
| Tenure | Interest Rate (p.a.) (Under ₹ 2 Crores) |
| 7 Days to 29 Days | 3.75% |
| 30 Days to 89 Days | 4.25% |
| 90 Days to 179 Days | 4.75% |
| 6 Months to 9 Months | 5.50% |
| 9 Months 1 Day to <12 months | 6.50% |
| 12 months to <15 months | 8.25% |
| 15 months | 8.50% |
| 15 Months 1 Day to 560 Days | 8.25% |
| 561 Days to 989 Days | 7.50% |
| 990 Days | 7.75% |
| 991 Days to 60 Months | 7.20% |
| 60 months 1 Day to 120 Months | 6.50% |
| Additional Interest Rate for Resident Senior Citizens | 0.50% |
Also read: SBI vs Bank of Baroda green fixed deposits (FDs): Which is offering higher interest rate? Check details
Shivalik Small Finance Bank
Shivalik Small Finance Bank offers an interest rate between 3.50% to 8.70% for general citizens. For senior citizens, interest rate vary between 4% to 9.20%. The highest interest rate of 8.70 % and 9.20% for senior citizens is offered on tenure of 24 months 1 day to 36 months. The rates are effective from March 2, 2024.
| Period | General | Senior Citizen |
| 7 days to 14 days | 3.50% | 4.00% |
| 15 days to 29 days | 3.75% | 4.25% |
| 30 days to 90 days | 4.25% | 4.75% |
| 91 days to 180 days | 4.75% | 5.25% |
| 6 months to less than 9 months | 6.00% | 6.50% |
| 9 months to less than 12 months | 6.00% | 6.50% |
| 12 months to 18 months | 8.70% | 9.20% |
| 18 months 1 day to 24 months | 7.80% | 8.30% |
| 24 months 1 day to 36 months | 7.50% | 8.00% |
| 36 months 1 day to 60 months | 6.50% | 7.00% |
| 60 months 1 day to 120 months | 6.25% | 6.75% |
| Tax saver FD 5 Years (60 months) | 6.50% | 7.00% |
Suryoday Small Finance Bank
Suryoday Small Finance Bank offers interest rates between 4% to 9.01% for general citizens. For senior citizens, interest rates vary between 4.40% to 9.25%. The highest interest rate of 9.01 % and 9.25% for senior citizens is offered on tenure of 2 Years and 1 Month (25 months). The rates are effective from March 1, 2024.
| Period | Interest Rate | Senior Citizen Rate |
| (Per Annum) | (Per Annum) | |
| 7 days to 14 days | 4.00% | 4.50% |
| 15 days to 45 days | 4.25% | 4.75% |
| 46 days to 90 days | 4.50% | 5.00% |
| 91 days to 6 months | 5.00% | 5.50% |
| Above 6 months to 9 months | 5.50% | 6.00% |
| Above 9 months to less than 1 Year | 6.00% | 6.50% |
| 1 Year | 6.85% | 7.35% |
| Above 1 Year to 15 months | 8.25% | 8.75% |
| Above 15 months to 2 years | 8.50% | 9.00% |
| Above 2 Years to 2 years 1 Day | 8.60% | 9.10% |
| 2 Years & 2 Days | 8.65% | 9.10% |
| 2 years 3 Days upto less than 25 Months | 8.60% | 9.10% |
| 2 Years and 1 Month (25 months) | 9.01% | 9.25% |
| More than 25 months upto 3 years | 8.60% | 9.10% |
| Above 3 Years to less than 5 Years | 6.75% | 7.25% |
| 5 Years | 8.25% | 8.75% |
| Above 5 years to 10 years | 7.25% | 7.75% |
